SOL Strategies is making waves! Revenue from staking Solana and Sui is soaring ๐, jumping from $67,000 to a whopping $1.85 million in just one year! But here's the kicker: they reported a net loss of $3.5 million despite the revenue surge. ๐คฏ
Why? Expenses, including infrastructure investments and share-based compensation, outweighed the gains. They're clearly playing the long game, though, even issuing $500 million in convertible notes and planning for up to $1 billion in share offerings to fuel their Solana-focused strategy. ๐ฐ
And get this: they're DECREASING their Bitcoin holdings while loading up on SOL and SUI. ๐ Is this the future? Other companies are following suit, ditching BTC for SOL treasuries. One even saw its shares skyrocket 630% after announcing a SOL treasury strategy! ๐ฅ What do you think of this?
Keep up with the trends!